Based on more recent tax and other revenue figures than the mayor had in January, Quinn said projected revenues slipped by an additional $143 million for the current budget and $295 million for the new budget.

Still unclear is what impact state budget actions and federal stimulus funds will have on the cuts earmarked by Bloomberg.

Quinn hedged on whether she would still pursue raising city income taxes on the rich now that the state is expected to impose a similar tax hike.

"We need to be mindful of not piling on and overtaxing [people] regardless of income," she said.